Continuity Agreement Sample Clauses
A Continuity Agreement is a contractual provision designed to ensure that the terms and obligations of an agreement remain in effect even if certain changes occur, such as a merger, acquisition, or change in ownership of one of the parties. In practice, this clause typically requires that successors or assigns of the original parties honor the existing contract, preventing disruption to ongoing business relationships or services. Its core function is to provide stability and predictability by safeguarding contractual commitments against organizational changes that might otherwise threaten their enforcement.
Continuity Agreement. Alcan hereby represents and warrants to Rio Tinto and Offeror that the Board of Directors has analysed the information, undertakings and commitments provided by Rio Tinto (including the grounds on which the requirements of Paragraph 3 of the Continuity Agreement may be considered to be met), has reviewed the recommendation of its ad hoc Canada Committee and of its ad hoc Quebec Committee, and has unanimously determined that Rio Tinto has demonstrated to the satisfaction of the Board of Directors that, following or as a result of the Contemplated Transactions, there is no reasonable basis to believe that (i) the positive commitment of Alcan to the economic health and economic and social prospects of Quebec would be diminished or put at risk in any material respect or (ii) there will be a direct or indirect net negative impact to the health and prospects of the economy or society of Quebec and that, in relation to the Offer, the requirements of Paragraph 3 of the Continuity Agreement have been fully met.
Continuity Agreement. (a) In light of the Board of Directors’ positive determination pursuant to paragraph 3 of the Continuity Agreement referred to in the recitals to this Agreement, Rio Tinto will, immediately after the execution of this Agreement, give notice to the Quebec Government pursuant to paragraph 7 of the Continuity Agreement that Rio Tinto has succeeded in demonstrating to the Board of Directors that the requirements of paragraph 3 of the Continuity Agreement have been met.
(b) Each of Rio Tinto and Offeror, on the one hand, and Alcan, on the other, shall cooperate with the Quebec Government and do all such things as are reasonable in order to obtain all required consents, approvals and non-objection from the Quebec Government pursuant to the Continuity Agreement.
Continuity Agreement. Notwithstanding anything in this Section 7, to the extent Executive is entitled to compensation and/or benefits under the Continuity Agreement, Executive shall not be entitled to any compensation or benefits under this Section 7 of the Agreement, except as set forth in the last paragraph of each of Sections 4(a) and 4(b) of the Continuity Agreement.
Continuity Agreement. A. In the event WG experiences a major catastrophe that would prohibit the shipment of filtered feedthroughs in sufficient quantities to meet CPI's firm purchase orders, WG will immediately notify CPI of the nature of the problem and begin discussions on the length of time that shipments will be delayed.
C. WG must give CPI * written notice of any intent to discontinue supply of filtered feedthroughs to CPI, but WG shall not be bound after the expiration of this agreement to the pricing set forth in Attachment A.
Continuity Agreement. It is agreed and understood that your Amended and Restated Continuity Agreement (“Continuity Agreement”), dated March 2, 2016, shall remain in effect for as long as you remain in your role as Presidents, Americas. For the avoidance of doubt, in no event shall your Continuity Agreement be deemed a benefit plan.
Continuity Agreement. Contemporaneously with the execution of this Agreement, AGLR and the Executive shall enter into a Continuity Agreement in substantially the form attached hereto as Exhibit B, with a term commensurate with that provided to other Section 16(b)
Continuity Agreement. Simultaneous with execution of this Agreement, the Executive and the Company will enter into a continuity agreement, substantially in the form attached hereto as Exhibit F.